New Heat Maps Look Really Cool!
Anyone who has checked out this blog on a regular basis should be familiar with the national heat map RealtyTrac produces every month that correlates with the release of its national data for the month.
Now, a recently developed partnership has gained some national attention from the media, taking the heat map phenomenon to a whole other level.
The story that ran last Friday in the Wall Street Journal’s “Developments” blog featured these new multi-colored foreclosure heat maps developed under a partnership agreement between RealtyTrac and HotPads.com.
HotPads has taken RealtyTrac foreclosure data and used it to produce interactive heat maps that allow viewers to zoom in from a view of the whole nation, to a particular state and even drill down to a specific property.
The color-coded maps provide enough detail to show even slight variations in foreclosure activity within a distinct section of a state. Such detail can be of great assistance to real estate investors and prospective homebuyers looking to pinpoint various levels of foreclosure activity in a particular geographic area of interest when seeking out pockets of potential bargain properties.
It’s another worthwhile tool in the arsenal of anyone who takes doing their homework seriously before investing in any property.